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International Monetary Fund. Communications Department
This issue of Finance & Development focuses on dark web of secret transactions that enable tax evasion and avoidance, money laundering, illicit financial flows, and corruption. Demands on government resources are building—to boost growth in some advanced economies, build infrastructure in emerging markets, and improve health and education in the developing world. IMF research shows that countries with lower levels of perceived corruption have significantly less waste in public projects. Among low-income countries, the share of the budget dedicated to education and health is one-third lower in more corrupt countries. The rise of digital finance, crypto assets, and cybercrime adds to the challenges. Consider the so-called dark web, a hidden marketplace for everything from stolen identities to arms and narcotics. Improving governance is not easy; it requires sustained effort over the long term.
International Monetary Fund

Abstract

Delivered at the Library of Congress as part of the Library’s Henry A. Kissinger Lecture Series in Washington, DC, on December 4, 2018

International Monetary Fund

Abstract

It is an honor to be with all of you tonight. Although he cannot be here this evening, I know we are all profoundly grateful to Dr. Kissinger for launching this important lecture series nearly 20 years ago.

International Monetary Fund

Abstract

International Monetary Fund Managing Director Christine Lagarde delivered this address at the Library of Congress as part of the Library’s Henry A. Kissinger Lecture Series in Washington, D.C. on December 4, 2018.